How Capital One Uses Video to Drive Social Strategy

The bank launched a humorous digital video series designed to promote its mobile banking offering.

Recently, Capital One unveiled a light-hearted digital video series intended to promote its mobile banking offering.

Banks have been wading into social media, including video, somewhat cautiously, figuring out the best way to engage customers -- and potential future customers -- without appearing overbearing.

Capital One, among others, have utilized one of the best ways to do this: humor.

I asked Pat McLean, VP, Brand Strategy for Capital One, about how the bank is using video as part of it's overall social media plan.

Bank Systems & Technology: How big of a role does video play in Capital One's overall social media strategy?

McLean: Video is becoming a more important medium in our social media strategy. There are things you can do with video on social media that you can’t do on other channels, such as build a story quicker. Video as part of our social media strategy will continue to grow and become more prominent.

BS&T: Is Capital One promoting an upgrade or new version of its mobile banking, or is this to raise awareness to its existing mobile banking product?

McLean One of the main drivers of mobile adoption is simply awareness, which we expect this campaign to generate in the typical, entertaining Capital One way. Mobile is an integrated part of Capital One’s marketing communications strategy and is an increasingly important channel for acquiring and servicing customers.
We did launch a new version of our mobile app late last year, which sported a new look and feel. Through the ads we are directing users to www.whilebanking.com. This is serves as our microsite where we provide customers information on the benefits of using mobile banking.

BS&T: How does Capital One envision social media overall as a channel, is it for customer engagement only or for also potentially delivering financial services, if not now then in the future?

McLean: Social media is a great place to interact with customers. We have a multi-channel strategy that is tailored for each channel. Ultimately, it is about meeting customers in their channel of choice, which will often depend on where they are and what they are doing. Social media is a place for conversation and interaction. At the moment, it is not a place to transact. There are other preferable channels, which are tried, tested and secure.

Bryan Yurcan is associate editor for Bank Systems and Technology. He has worked in various editorial capacities for newspapers and magazines for the past 8 years. After beginning his career as a municipal and courts reporter for daily newspapers in upstate New York, Bryan has ... View Full Bio